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BIOINFORMATICS MARKET ANALYSIS

• Bioinformatics Market, By Product (Bioinformatics
  platforms, Bioinformatics services), By
  Application (Genomics, Chemoinformatics and drug
  design, Proteomics, Transcriptomics,
  Metabolomics, Molecular Phylogenomics, Others),
  and By Region (North America, Latin America,
  Europe, Asia Pacific, Middle East Africa) -
  Size, Share, Outlook, and Opportunity Analysis,
  2020 2027.

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• Bioinformatics is defined as the combination of
  biology and information technology. Computer
  software tools are used in bioinformatics for
  creation, management and development of database.
  It is also used in data warehousing, data mining
  and communication networking. In addition, it is
  widely used in the management of biological
  information in the field of medical research and
  development of drugs.
• Statistics
• The global bioinformatics market is estimated to
  account for US 46,261.2 Mn in terms of value by
  the end of 2027.
• Global Bioinformatics Market Drivers
• Significant growth in the pharmaceutical sector
  is expected to propel growth of the global
  bioinformatics market over the forecast period.
  For instance, according to The European
  Federation of Pharmaceutical Industries and
  Associations Key Data 2019, the pharmaceutical
  sector in Europe was valued at US 139, 287
  million in 2000, which increased to US 284, 028
  million (est.) in 2018.
• Moreover, various advantages of bioinformatics
  are also expected to aid in growth of the market.
  Various advantages of bioinformatics include,
  convenient and accurate verification of
  biological data, and storage and access to a
  large amount of data. Bioinformatics also helps
  in fast sequence search through algorithm. In
  addition, bioinformatics is also used in the
  field of biotechnology such as blue
  biotechnology, green biotechnology, red
  biotechnology, white biotechnology, and
  bioeconomics. It is cost effective and includes
  pharmacogenomics, drug productions, genetic
  testing, and gene therapy.

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Figure 1 Global Bioinformatics Market Share
() Value, By Region, 2019
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• Market Restraints
• High capital investment is expected to hinder
  growth of the global bioinformatics market.
  Moreover, lack of skilled professionals and low
  adoption of bioinformatics in emerging economies
  is also expected to limit the market growth.

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Bioinformatics Market ReportCoverage
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• 
  Statistics
• The global bioinformatics market was valued at
  US 10,391.4 Mn in 2019 and is forecast to
  reach a value of US 46,261.2 Mn by 2027 at
  a CAGR of 20.5 between 2020 and 2027.

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Figure 2 Global Bioinformatics Market Value (US
Mn), 2016 2027
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• Market Trends
• Grants for RD in bioinformatics is expected to
  propel growth of the global bioinformatics
  market. For instance, in August 2020, Addex
  Therapeutics, a clinical-stage pharmaceutical
  company, and the Swiss Institute of
  Bioinformatics were awarded a US 656 thousands
  Innosuisse grant to apply computational
  approaches developed by Swiss Institute of
  Bioinformatics to identify new therapeutic
  indications for ADX10061, a potent and selective
  dopamine D1 receptor antagonist.
• Moreover, adoption of bioinformatics in RD of
  COVID-19 is also expected to aid in growth of the
  market. For instance, August 2020, researchers
  from University of Pennsylvania, U.S., reported
  that a new bioinformatics approach to studying
  the pathogenesis of COVID-19, by uncovering the
  differentially expressed genes and cell signaling
  pathways that cause the disease characteristics.

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• Global Bioinformatics Market Competitive
  Landscape
• Major players operating in the global
  bioinformatics market include, Active Motif,
  Inc., Illumina, Inc., Life Technologies,
  Affymetrix, Inc., Agilent Technologies, Bio-Rad
  Laboratories, Inc., Qiagen, Knome, Inc., GE
  Healthcare, Geneva Bioinformatics SA, Quest
  Diagnostics, bitBiome, Inc., Intomics, Advanced
  BioInformatics GmbH, and Fios Genomics Ltd.
• Global Bioinformatics Market Key Developments
• Major players in the global bioinformatics market
  are focused on RD to expand their product
  portfolio. For instance, in June 2020, Intomics
  announced that the company is a part of the newly
  funded translate project on personalized diabetes
  treatment. As part of the TRANSLATE project
  funded by the Innovation Fund Denmark, Intomics
  will develop a new software platform facilitating
  personalised treatment of diabetes patients.
• Major players in the market are also focused on
  raising funds to enhance their market share. For
  instance, in September 2020, bitBiome, Inc.
  raised US 6.6 million in a Series B financing
  from previous and new investors including The
  University of Tokyo Edge Capital Partners,
  Universal Materials Incubator, and other
  Japan-based venture capital firms.

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